Sponsorship crisis as Allianz walk away

SARACENS are set to lose more sponsors and must rename their stadium after Allianz confirmed yesterday that they will terminate their relationship with the club at the end of the season. Sportsmail revealed last week that the German insurance company had decided to end their sponsorship of Saracens in the wake of the salary cap scandal. This could cost the club £2million a season and another of their shirt sponsors is ready to jump ship. Saracens have already begun the process of looking for sponsors to replace Allianz, which could turn into a lengthy search as other commercial partners are preparing to desert them. One of the club’s major shirt sponsors, the CME Group, have requested a meeting with Saracens executives to discuss their partnership — leading to fears they want to end their six-figure deal. CME Group, a foreign exchange company, have sponsored Saracens since 2014 with their logo appearing on the back of the first team’s shirts. In a statement confirming the split from Allianz, Saracens thanked other sponsors Nike, Hy-Pro and Simba for their ‘ongoing support’, which raised questions about whether their other partners

Our story on February 5 will stand by them. In addition to that loyal trio, Allianz and the CME Group, Saracens have 17 other commercial deals with companies ranging from specialist equipment and medical suppliers to coffee and alcohol brands. Saracens’ portfolio is the envy of the rugby world but now many companies are considering moving on to clubs who have not been tainted by the salary cap scandal, which resulted in Saracens’ relegation to the Championship next season. Allianz said in a statement: ‘Allianz has taken the difficult decision to end its sponsorship of Saracens. Allianz intends to continue to be involved in the great work that the Saracens Sports Foundation does in their local community.’